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. hurricane sandy, there's been speculation for a week on these building companies. all of them up again today. absolutely remarkable. finally, maria, talk about great timing. guess who's going public tonight? restoration hardware. we need them. maria, it's a very, very small offering. i hear a little bit of a pop tomorrow. i'll be all over that in the morning. >> that's a great company. thanks very much, bob. appreciate it. we'll see you a little later. don't go anywhere. we're all over this big rally and much more on this busy edition of the "closing bell." stay with us. >>> coming up, markets on the move. good economic numbers, but will it carry over if the october jobs report brings bad news? we break it all down straight ahead. >>> plus, brewing profits. maria talks exclusively with starbucks ceo howard schultz about earnings and the effect sandy may have had on his company's supply chain. >>> and insuring stability. aig chief robert benmosche joins maria with his thoughts on earnings, sandy's aftermath, and the treasury department's reported plans to liquidate its remaining shares of his
me is margie of wells fargo, sandy duncan and chris bertleson and rick santelli. thanks for joining us. rick, i'm going to kick this off with you. what are traders saying ahead of tomorrow's election? >> they certainly expect a lot more movement in markets tomorrow and the following day. today was a go nowhere range day. even in the stocks they move into positive territory. dollar index has been firmly but lightly in positive territory with little turnover. same with the euro. many traders are saying, you know, it was momentum that propelled the giants in baseball. so, they're putting a lot of stock in momentum, which may be a positive for the challenger in the form of mitt romney but everybody has their own unique foibles how they want to proceed on the trading side. traders aren't giving me anything solid as a glimpse into who wins but they seem optimistic they think the fiscal cliff will be dealt with, but it won't be dealt with until next year and dealt with retrospectively. >> i would agree, that's what people are saying now. chris, regardless, you're saying you're staying neut
're faced with in the economy, on the heels of sandy, how do you want to allocate capital? what are you telling investors? >> well, in terms of where the liquidity is going, because we have these liquidity ways, i think you want to be in shorter duration assets if you're going to look at the fixed income markets. you have to believe rates are going to go up. then you have to look at equity groups. that's where the last waves go into the more risky assets. >> and you're seeing that? >> yes. >> all right. we'll leave it there. chip, good to have you on the program. jeff, rick, thanks very much. let's keep our focus zeroed in on the markets. bill stone helps to oversee more than $55 billion in assets. hendrick is in charge of about $100 billion. we want to find out where they're putting their money to work and how they see this market. both join me now. gentlemen, good to have you. bill, you say it's time to be more cautious in equities? >> yeah, we recently really lowered our allocation down to baseline. i think it's for a lot of the reasons that were discussed. even once we get past the
by hurricane sandy set money aside to help hurricane victims? stick around. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business
as hard by sandy as coastal and northern new jersey residents. the state has extended the deadline for displaced voters to return their ballots to 8:00 p.m. on friday. there is a lot more at stake than just the presidency, of course. we could also see a big shift in congress. it could have a huge impact on the looming fiscal cliff. eamon javers is looking at that angle. >> there's a four-vote margin if republicans are going to take over in the senate. they need four votes to switch into their column. they only need three, however, if mitt romney wins. that's because paul ryan would be the vice president. in the house of representatives, democrats face an uphill battle. they would need a net 25 seat gain in the house in order for things to switch over. that's caused a lot of people to focus on what happens with the fiscal cliff negotiations after we get this election tonight. as you're seeing there, you're looking at paul ryan's campaign website. remember, he's running for the house of representatives tonight as a hedge in case he loses the vice president vice presidency. will he be
, the governors, cuomo, christie, malloy, if they went on holiday while we had sandy, what would you do? we have an economic crisis. they're going home for thapnk giving. they're going to take a short break in december. yeah, we have to have a patch, but we have to have a fix. >> so does he have a point? is congress taking the fiscal cliff seriously enough? joining me right now, the man in charge at insurance broker willis group. joe is also on the fix the debt campaign. it's great to have you on the program. >> nice to see you again. >> thank you so much. we had this big rally in stocks on monday. on some rhetoric, i guess, that led investors to believe there was optimism we will get a deal done on this fiscal cliff. now they've left town. what do you think happens? >> i don't understand why there's not a sense of urgency. i agree with mario. i don't know that people appreciate the fact what cliff means. remember sundance kid, butch ka cassidy, when they jump over the cliff and they fell? the taxes are going to go up. interest rates are going to go up. nobody will be able to borrow any money. y
the markets were electronic too. then we had this two-day shutdown. i want to get to hurricane sandy in a moment. what's your take on what went on at citigroup? vikram pandit being pushed out like that. i know this was a lifetime ago you worked there, but is it the board that keeps messing up? what's going on? >> maria, i have no insights. if i did, i wouldn't share them. >> are you sure? >> i did call vikram up and wish him the best and michael. >> you've got all these technology ceos and social media new technology ceos meeting together in this conference. why is this sector so important to you? is that where the vibrancy is in business today? >> sure. remember, we're still doing basic banking like loans. we have 12 million mobile accounts now. people are moving money. uk you can take pictures of checks and have them deposited. these services are going to grow very rapidly. so i've spent almost a week here meeting these folks and making sure we're geared up for it. electronic exchanges. that's been happening my whole life. this is just another huge wave of things to make it easier
. >> d did you get the invitation to the white house? >> no, the mail was a little slow due to sandy. >> serious l the banks are not invited. is this a concern that one key part of the economy is not involved in the conversation? >> i think it's fundamental. without money, you can't create jobs. the single best source of money is banking. so even though the other corporations that are there need to spend money, they need to get money from the very places such as the new york stock exchange, such as the banks that are not being invited to this meeting. so without the banks, i think we misan important ingredient as to what needs to be done so as to create more viability in the period ahead. >> we all want to rise above it and get on board and get the economy back on track. i just worry that it's going to be two sides digging in again and lotsds of divisiveness and finger pointing. are we going to get back on track and get over this, you know, us versus them mentality? >> i think for the next four years the battle will continue. >> you do? >> however, i believe we'll settle the cliff is
of a pullback in october partly reflecting hurricane sandy. fed chairman bernanke is likely to at least hint that further stimulus is coming in december replacing operation twist with straight treasury purchases. we are going to be focusing on communications policy. >> could be bernanke day tomorrow. eric, what are you looking for tomorrow? >> bank expanded asset purchases by 21 trillion over the past months and we expect them to pause on easing. we expect the yen to remain weak moving forward. we will be looking at the european finance minister's meeting. optimism has helped to support risk and the euro. >> you left 12 seconds behind. last but not least, tim. >> we look to the continued overampplication of investors realizing that the market is not pricing in as much of the price increase. so we expect retail investors and hedge funds to start putting more money to work. we think the rally is sustainable into mid december when congress does it. we look to people sitting on the sidelines to come in and being active given the reward scenario. >> our producers thank you. they can get out of th
gone through with sandy and the upcoming winter. home depot shares trading at 12-year highs. lowe's at 5-year highs. google says when it comes to shopping related searches, jcpenney christmas is coming in number one, followed by walmart black friday card and home depro black friday hours. interesting data points coming in from all around the country, online, in store, you name it, we've got it for you. >> very good. courtney reagan, back home in the heartland. say hi to your family for me there. >>> could this end up being a make or break holiday shopping season for best buy? jane wells is at one in california with details on that. jane? >> reporter: hey, bill. the manager here at this best buy won't give us specific numbers but he says sales so far after 10 1/2 hours are "on track." part of best buy's restructuring is something called the renew blue initiative which citigroup says they're trying to emphasize customer experience, improve it in the stores, something they've struggled with. they've reilly tried to pump up employees today. here's you, brandon. how has the experience
tone all be it conditioned by hurricane sandy. the timing of the cutoff is last monday. so it's unlikely to include any holiday shopping. >> thank you, guys. >> roll tide. >> thank you. >> i thought more people would be coming at us with the notre dame thing. >> where is mary thompson today? >> she is heading to miami for the big game. >>> a down day and it was pretty clear that the markets were watching for signals coming out of washington on the fiscal cliff. and they didn't like what they heard when senate majority leader said he was disappointed with the talks with the republicans to this point. >> we have time. the moment harry reid started speaking you can see the charts that it all falls at the exact moment when he said they thought there would be more progress with the republicans.
Search Results 0 to 10 of about 11

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